1 / 22

Creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities

Key Features of NSP 2 Beyond the Neighborhood Stabilization Program Training Session Reclaiming Vacant Properties Conference Louisville, KY June 1, 2009 Sarah M. Greenberg NeighborWorks ® America. NeighborWorks ® America.

lis
Télécharger la présentation

Creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Key Features of NSP 2Beyond the Neighborhood Stabilization Program Training SessionReclaiming Vacant Properties Conference Louisville, KYJune 1, 2009Sarah M. GreenbergNeighborWorks® America

  2. NeighborWorks® America • Creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities • Provides financial support, technical assistance, and training for community development efforts around country • The NeighborWorks Network: • Over 235 independent housing and community development nonprofit organizations • All 50 states, Puerto Rico and D.C. - 4,400 communities • $12.25 billion investedin America’scommunities • 111,000 families have become homeowners • 638,000 families have been educated about the home buying process

  3. NeighborWorks®Center for Foreclosure Solutions • Began as pilot in 2005 • Now the nation’s leading nonprofit foreclosure mitigation program • Training for foreclosure counselors • Public outreach, educational, and awareness campaigns • Sustainable programs in cities and states with high foreclosure rates • Post-foreclosure and neighborhood stabilization solutions

  4. NeighborWorks® America’s Stable Communities Program • Support the Network and the field in efforts to turn the foreclosure crisis into an opportunity to build sustainable communities • Help facilitate the swift but responsible disposition of foreclosed properties and the ability of communities return them to productive use • Resources/strategies: • Website • Training/workshops • Tools/publications • Grants/technical assistance • Success Measures – impact evaluation pilot • National Community Stabilization Trust

  5. NeighborWorks® Stable Communities Program: www.StableCommunities.org

  6. Neighborhood Stabilization Program • Round II: Just the Facts • NOFA released May 4, 2009 • $2 billion in additional funds awarded competitively (vs. formula) • $50 million for capacity building, $1.93 billion for program funds (HUD retained $20 million for program administration) • Eligible grantees – states, units of government, nonprofits and consortia of nonprofits, for-profits in consortia • $5 million minimum application (100 units), limit 10% for administrative expenses • Applications due July 17th at 5:00 p.m. EST • Last date for HUD to notify selected applicants: December 1, 2009 • Last date to make funds available: February 17, 2009

  7. Neighborhood Stabilization Program • Changes retroactive to Round 1: • Land bank include operational costs and expanded to residential properties, not just foreclosed homes • Redevelopment of vacant or demolished property limited to housing • No demolition of public housing • Repealed challenging program income provisions • Key changes from Round 1: • Competitive application process • Nonprofits are eligible grantees • Greater tenant protections • Demolition activities limited to 10% • Must expend 50% within 2 years, 100% within 3 years • 1% discount per property, 5% per grantee • Gut rehab must meet Energy Star for New Homes Standard • Streamlined citizen participation

  8. Neighborhood Stabilization Program • Eligible Uses (same as Round1): • Financing Mechanisms (foreclosed homes and residential properties) • Purchase and rehab (foreclosed or abandoned homes and residential properties) • Land-Banks (foreclosed homes and residential properties) • Demolition (blighted structures) • Redevelopment as housing (demolished or vacant properties)

  9. Neighborhood Stabilization Program • Round 2 attempts to address the challenges inherent in Round 1, by focusing on: • Regional approaches • Geographic targeting (concentration of resources) • Capacity to carry out activities • Comprehensive planning • Leveraging resources • Public/private partnerships • Rational use of land • Interventions likely to succeed • Requiring energy efficiency • NSP 2 has some challenges, but a good NSP 2 application has a real chance of becoming a successful neighborhood stabilization project!

  10. Neighborhood Stabilization Program • Application threshold requirements: • Average foreclosure need index score or vacancy risk index score of 18 for census tracts served • Data available at http://www.huduser.org/nspgis/nsp.html • Demonstrated organizational capacity (75 units in past 24 months) • Income targeting (120%, with 25% to 50% AMI or below)

  11. Neighborhood Stabilization Program • Six Scoring Factors (plus past performance) • Up to 150 points • Minimum of 115 points required for funding • HUD may make adjustments • Factor 1: Need/Extent of the Problem (40 pts) • Target geography (threshold factor) (10 pts) • Market conditions (30 pts) • Absorption rate/months of inventory • Income characteristics • Housing cost burden • Cause of the problem • Identify NSP activities most likely to stabilize

  12. Neighborhood Stabilization Program • Factor 2: Demonstrated capacity of applicant and staff (40 pts) • Past experience (30 pts) • Past 24 months • Skills of your staff • Results • Management structure (10 pts) • Include references

  13. Neighborhood Stabilization Program • Factor 3: Soundness of approach (45 pts) • Proposed activities (15 pts) • Project completion schedule (5 pts) • Income targeting (5 pts) • Continued affordability (5 pts) • Consultation, outreach, communication (5 pts) • Performance and monitoring (10 pts)

  14. Neighborhood Stabilization Program • Factor 4: Leverage or removing substantial negative effects (10 pts) • Strictly quantitative • All scores will be indexed, top third in either category will receive maximum points, second third will receive 5 points, bottom third will receive zero points • Leverage = firm commitments/NSP 2 funds • Cash, in-kind, donated land or services • No sweat equity or mortgages to homebuyers • Removal of negative effects = (Units acquired and rehabbed + units demolished)/total vacant residential units in target area

  15. Neighborhood Stabilization Program • Factor 5: Energy efficiency and sustainable development (10 pts) • Accessibility to transit (4 pts) • Green building standards (3 pts) • Reuse of all NSP sites (1 pt) • Deconstruction (1 pt) • Other sustainable development factors (1 pt)

  16. Neighborhood Stabilization Program • Factor 6: Neighborhood transformation and economic opportunity (5 pts) • Consistency with a comprehensive, regional, or multi-jurisdiction plan • Demonstrate how NSP activities relate to and increase the effectiveness of the plan(s)

  17. Neighborhood Stabilization Program • Environmental reviews • Nonprofits applying without a government entity as a co-applicant must rely on HUD to perform environmental reviews • If a government entity is part of the consortium application, they must complete environmental reviews in their jurisdictions • The strongest application = a regional consortium that includes local government serving each target area and includes nonprofit and/or for/profit partners with demonstrated capacity

  18. National Community Stabilization Trust • A joint venture launched in 2008 and sponsored by: • Enterprise Community Partners • Housing Partnership Network • LISC • National Urban League • National Council of La Raza • NeighborWorks America • The Stabilization Trust facilitates the transfer of foreclosed and abandoned property from financial institutions nationwide to localities to promote neighborhood stability. • Creates a bridge between twoworlds – the financial institution servicer/REO departments and state and local housing providers.

  19. National Community Stabilization Trust • Transfer Properties - Facilitate the Effective Transfer of Foreclosed and Abandoned Properties to Localities • Financing - Provide Debt and Equity Financing to Support Local and State Efforts • Capacity Building - Organize and Facilitate Local Collaborations Working Through the Sponsor Organizations • Focal Point - Serve as an Industry “Voice” for Foreclosures and Neighborhood Stabilization

  20. Transfer Foreclosed Properties without the Trust Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer Community Community Community Community 20

  21. Transfer Foreclosed Properties with the Trust Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer Lender / Servicer MBS / Servicer NATIONAL COMMUNITY STABILIZATION TRUST Community Community Community Community 21

  22. Thank You For More Information: Sarah M. Greenberg NeighborWorks America sgreenberg@nw.org stablecommunities@nw.org

More Related